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The practice of building ties to customers based on a salesperson's attention and
commitment to customer needs over time is referred to as __________.
A. order processing
B. order taking
C. customer value creation
D. relationship selling
E. partnership selling
Answer:
Technology is defined as
A. any device or process based on scientific discoveries that are less than one year old.
B. any mechanical device used in the production or distribution of a product.
C. scientific findings that are used now or are able to generate a profit.
D. ideas or concepts that will one day be translated into useable devices, mechanisms,
or processes.
E. the inventions or innovations from applied science or engineering research.
Answer:
Figure 4-5
Figure 4-5 above depicts the Maslow __________.
A. motivation for preservation
B. products pyramid
C. hierarchy of needs
D. ladder of effects
E. psychosocial influences
Answer:
Heinz EZ Squirt Photo
When Heinz introduced its new EZ Squirt Ketchup bottle (see the photo above), the
degree of newness for the consumer would make this a
A. continuous innovation.
B. discontinuous innovation.
C. dynamically continuous innovation.
D. spontaneous innovation.
E. continuous invention.
Answer:
The process by which people acquire the skills, knowledge, and attitudes necessary to
function as consumers is referred to as __________.
A. consumer assimilation
B. consumer socialization
C. consumer lifestyle
D. purchase decision process
E. purchasing enculturation
Answer:
Movie studios use tracking studies in which prospective moviegoers are asked
questions about an upcoming film release to help them forecast sales. This is an
example of
A. movie advertising.
B. marketing research.
C. tactical support.
D. cross-movie research.
E. movie audits.
Answer:
Hallmark was an official supplier at the Winter Olympics. Hallmark presented each
Olympic winner with a special bouquet of roses designed to resemble the Olympic
torch. Consumers could buy a smaller version of this bouquet at the Hallmark website
for $74.95. The Olympic bouquet contained two dozen yellow roses, yet one could buy
two dozen yellow roses for less than $35 at most supermarkets. With the Olympic
bouquet Hallmark appealed to flower buyers that wanted to make a statement, so it used
which demand-oriented pricing approach?
A. bundle pricing
B. yield management pricing
C. skimming pricing
D. target return-on-sales pricing
E. penetration pricing
Answer:
Yield management pricing is most consistent with services attempting to deal with
A. perceived risk.
B. capacity management.
C. cognitive dissonance.
D. inelasticity of demand.
E. new product strategy development.
Answer:
All of the following are behaviorally-related sales objectives EXCEPT:
A. communication skills
B. customer service satisfaction ratings
C. number of new customers
D. selling skills
E. product knowledge
Answer:
Three closing techniques are used when a salesperson believes a buyer is about ready to
make a purchase. They are __________ closes.
A. assumptive, trial, and presumptive
B. trial, assumptive, and urgency
C. presumptive, trial, and final
D. trial, final, and urgency
E. assumptive, presumptive, and final
Answer:
Figure 11-2
Figure 11-2 above represents the four approaches to selecting an appropriate price level.
Box C includes target profit and target return on sales so it represents which approach?
A. demand-oriented approach
B. profit-oriented approach
C. competition-oriented approach
D. cost-oriented approach
E. results-oriented approach
Answer:
A need-satisfaction presentation format that involves adjusting the presentation to fit the
selling situation, such as knowing when to offer solutions and when to ask for more
information, is referred to as __________.
A. relationship selling
B. adaptive selling
C. consultative selling
D. proactive selling
E. cooperative selling
Answer:
Figure 2-4
In Figure 2-4 shown above, SBUs found in quadrant B would be called __________.
A. cash cows
B. stars
C. question marks
D. dogs
E. hedgehogs
Answer:
A virtual __________ is a social network of individuals who interact through
user-to-user communications hosted by a company to enhance customer experience and
build a favorable buyer-seller relationship.
A. village
B. community
C. district
D. area
E. population
Answer:
The sign at the entrance to the men's store reads, "Buy one shirt, get a second shirt of
equal or lower value for only one dollar." Which type of sales promotion is the men's
store is using?
A. a contest
B. a premium
C. a deal
D. a rebate
E. a sample
Answer:
The U.S. Census Bureau website
A. are repositories of information on U.S. business, economic and trade activity
collected by the federal government.
B. are portals to all government websites that can be found by topic or keyword.
C. provide up-to-the-minute business news and security prices plus research reports of
companies, industries, and countries.
D. are the most popular Internet portals to enter key words or topics for specific
searches.
E. access information in online databases and blogs by primary topic.
Answer:
With a __________ pricing strategy, a price setter stresses the __________ side of the
pricing problem.
A. demand-oriented; cost
B. supply-oriented; target ROI
C. competition-oriented; marketing channel
D. cost-oriented; cost
E. profit-oriented; customer preferences
Answer:
At the present time, StuffDOT sees which of the following social networks as its direct
or principal competitor?
A. Facebook
B. Pinterest
C. Groupon
D. LivingSocial
E. StuffDOT sees no "direct" competitors
Answer:
An example of a dramatic __________ change is the increasing connectivity that links
customers, machines, vehicles, appliances, and mobile devices to create the Internet of
Things.
A. managerial
B. technological
C. ethical
D. regulatory
E. economic
Answer:
A selling format that consists of information that must be provided in an accurate,
thorough, and step-by-step manner to inform the prospect is referred to as a
__________.
A. traditional hard sell
B. formula selling presentation
C. stimulus-response presentation
D. needs-satisfaction presentation
E. straight rebuy sales-pitch
Answer:
The preference for a specific brand is called __________ demand.
A. selective
B. secondary
C. primary
D. derived
E. generic
Answer:
The price of one country's currency expressed in terms of another country's currency is
referred to as the
A. balance of price.
B. currency exchange rate.
C. money conversion factor.
D. balance of payments.
E. transfer payment.
Answer:
Online retailing has evolved to include social shopping options like intermediaries
(Groupon), marketplaces (Goggle Offer), and __________ (Yipit).
A. swap meets
B. aggregators
C. flash mobs
D. showroomers
E. arbitrators
Answer:
Charlie was standing outside of his classroom talking on the phone when a friend heard
him say, "Thank you for taking my call so quickly. I'd like to order the 32-gigabyte
iPad. I'll pick it up today at the Southdale Apple Store. Can I use the easy pay plan?"
Charlie was in which stage of the consumer purchase decision process?
A. problem recognition
B. alternative evaluation
C. information search
D. purchase decision
E. postpurchase evaluation
Answer:
A global market-entry strategy in which a foreign company and a local firm invest
together to create a local business in order to share ownership, control, and profits of
the new company is referred to as
A. licensing.
B. a joint venture.
C. direct exporting.
D. contract assembly.
E. dual adaptation.
Answer:
Victoria's Secret, a nationwide chain, carries great depth in women's lingerie, and
almost no other products. Victoria's Secret is an example of a(n) __________.
A. limited-line store
B. single-line store
C. intertype outlet
D. general merchandise store
E. specialized merchandise store
Answer:
A retailer-sponsored cooperative refers to
A. small, independent retailers forming an organization that operates a wholesale
facility cooperatively.
B. a vertical marketing system that involves a contractual relationship between a
wholesaler and small independent retailers to standardize and coordinate buying
practices, merchandising programs, and inventory management.
C. an agreement among small, privately owned manufacturers to pool their resources by
sharing installations, heavy equipment, and warehousing that they would be unable to
afford on their own.
D. an agreement among retailers to pool their resources by purchasing services such as
signage, snow removal, and trash removal that affects the physical space (strip mall,
etc.) they all share.
E. small, independent retailers that pool their resources to fianc store expansion
programs.
Answer:
Singapore Airlines has advertising that shows a traveler in the airline's new seats and
emphasizes food and other amenities to overcome the __________ of its service.
A. incongruity
B. inconsistency
C. inventory costs
D. inseparability
E. intangibility
Answer:
In a typical manufacturing firm, the structure of its marketing department is typically
organized from top to bottom as follows:
A. CEO to CFO to Product Manager.
B. CEO to CMO to Product Manager.
C. Product Manager to Marketing Research Manager to Sales Manager to Promotion
Manager.
D. Industry Manager to Market Manager to Product Manager.
E. Product Manager to CMO to Sales Manager.
Answer:
There are four popular types of franchising: (1) manufacturer-sponsored retail franchise
systems, (2) __________; (3) service-sponsored retail franchise systems; and (4)
service-sponsored franchise systems.
A. service-sponsored retail franchise systems
B. manufacturer-sponsored wholesale franchise systems
C. horizontal-marketing franchise systems
D. contractual-sponsored franchise systems
E. customer-oriented franchise systems
Answer:
The Internet sites for The Wall Street Journal, CNBC, and Fox Business
A. sell information on trade activity collected by the U.S. government.
B. are portals to all government websites that can be found by topic or keyword.
C. provide information in online databases and an index of blogs by primary topic.
D. are the most popular online portals in which to enter key words or topics for specific
searches.
E. provide up-to-the-minute business news and video clips about companies, industries,
and trends.
Answer:
Explain the difference between joint venture and direct investment market entry
strategies. What are the advantages and disadvantages of each approach?
Answer:
During October, kiosk or "pop-up" stores often appear in many malls for the holiday
season. Typically, these kiosks sell gift boxes of cheese, jewelry, and other items people
think are appropriate seasonal gifts. In January, these "pop-up" retailers vanish. Is it
possible for such a retailer to use relationship marketing? Explain your answer.
Answer:
What is bait and switch? Give an example of it.
Answer:
What is a point of purchase display? Discuss two reasons why firms use them.
Answer:
It is said that goods, services, and ideas are marketed. Define goods, services, and ideas
and give at least one example of each.
Answer:
In recent years, a number of countries with similar economic goals have formed
transnational trade groups or signed trade agreements for the purpose of promoting free
trade. Describe the three discussed in the textbook.
Answer:
List and briefly describe the key elements of the communication process.
Answer:
Describe the three major concepts of social responsibility.
Answer:
What are the four types of consumer products? How do they differ?
Answer:
Explain why measures of success are important to effective decision makers and give
an example of one.
Answer:
Explain what is meant by the concept of marketing utility. Identify and describe the four
utilities created by marketing.
Answer:
Explain the difference between a market and a target market. Provide a specific
example of each.
Answer:
Imagine you have the sole marketing rights to a new herbal shampoo that stops hair loss
and actually causes new hair growth. You plan to sell your product on an Internet
website, which you will advertise on late night television. You are also hoping to obtain
free publicity to place stories in men's fashion magazines. You are planning to sell
online a 15-ounce bottle for $24.99 plus $7.99 shipping and handling. Using the
information provided, identify each element of your marketing mix.
Answer:
Identify and describe the two types of personal moral philosophy.
Answer:
When is skimming pricing an effective strategy?
Answer:
List and briefly describe the four customer service factors that must be balanced in a
logistics system.
Answer:
